Exercise 2-14 (Algo) Closing entries [LO2-8] Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2024 Sales revenue Salaries expense Interest revenue Advertising expense Gain on sale of investments Cost of goods sold Insurance expense Interest expense Income tax expense $ 512,000 82,800 6,800 11,500 9,200 281,600 14,300 3,900 41,000 24,000 Depreciation expense Required: Prepare the necessary closing entries on December 31, 2024 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits. General Innal nahit Crartie